Art Advising, Art Finance, NFTs

Abstract

Art advisors are usually engaged by collectors to help them assemble their collection. In that role they may accompany their clients to galleries, artists’ studios, and especially art fairs. Art advisors can be self-standing firms. Gallerists, however, will also often take of this role for clients who trust their advice and judgment. The phenomenon that art can accrue value over time forms one of the foundational premises of an art market. Very much simultaneous with the art world’s pivot from the physical to the virtual during the COVID pandemic, the disruptive technology of Non-Fungible Tokens (NFTs) emerged quite suddenly in early 2021. Kickback—a payment received by the agent of a commercial transaction from a supplier, usually in compensation for the agent having facilitated their client’s business with the supplier. All blockchain transactions incur a gas fee including minting of NFTs.